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Canadian Palladium Defines 2.9 Km Mineralized Strike Length; Releases 9.7 g/t over 2 Metres PdEq Drill Result

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Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) is pleased to provide new assay results for drill holes EB-20-48 to EB-21-50 at the East Bull Palladium Deposit, located 90 kilometres west of Sudbury, Ontario. Holes EB-20-48 to EB-21-50 have extended the Garden Zone to the west for 400 metres on strike. A highlight from the current results is hole EB-21-50 that intersected two mineralized intervals with 9.709 grams/tonne Palladium-equivalent ( g/t PdEq) over 2.0 metres and 1.055 g/t PdEq over 24.0 metres in the Garden Zone. The drilling program has now defined over 2.9 km strike length of near-continuous disseminated sulphide mineralization hosting palladium, platinum, rhodium, gold, and base metals.

 

Wayne Tisdale, Canadian Palladium’s CEO, commented, “With a mineralized zone of almost 3 kilometres, and palladium prices at an all-time high, East Bull continues to provide us with excellent results. Additionally, we are awaiting our rhodium results, and with rhodium currently over $26,000 per ounce, rhodium will be the second most important contributor to PdEq at East Bull after Pd itself.”

 

Mineralized intervals from holes EB-20-48 to EB-21-50 are reported in Table 1. Appendix 1 provides details of hole locations and orientations. Figure 1 shows the locations of the drill holes.

 

 

Table 1: Diamond Drill Hole Results EB-20-48 to EB-21-50

 

Hole ID From (Metres) To (Metres) Width (Metres) Pd g/t Pt g/t Au g/t Cu % Ni % Co % 3PGM + Au g/t Pd Eq Grams per Ton
EB-20-48 157 163 6 0.324 0.112 0.045 0.090 0.038 0.007 0.481 0.829
EB-21-49 248 255 7 1.406 0.388 0.109 0.155 0.080 0.009 1.903 2.554
including 250 252 2 2.780 0.666 0.240 0.155 0.129 0.011 3.686 4.545
EB-21-50 119 121 2 6.465 2.337 0.117 0.031 0.040 0.008 8.918 9.709
and 130 154 24 0.456 0.152 0.055 0.114 0.030 0.006 0.663 1.055

 

  1. Individual demarked samples were sawn in half, bagged, sealed and transported by courier to the laboratory. Duplicates, blanks and standards were introduced to the sample stream on site. Samples were sent to AGAT Laboratories, Mississauga, Ontario. Each sample was analysed using the AGAT Laboratories codes 202555, Fire Assay-ICP (50g); 201070, 4 Acid Digest / ICP-OES Finish.
  2. Reported widths are drilled widths, with true widths estimated to be 90 per cent of drilled widths for minus-60-degree-holes to approximately 85 per cent of drilled width for minus-70-degree holes.
  3. Pd-Eq grade based on parameters in the May 23, 2019, NI 43-101 Resource Estimate and Technical Report. Metal prices are based on 24-month trailing averages at January 31, 2018. In US$ these prices are: Pd – $767/oz; Pt – $973/oz; Rh – $1,000/oz; Au –
  4. $1.262/oz; Cu – $2.53/lb; Ni – $4.62/lb; Co – $20/lb.

 

The Company’s protocol is to analyze Rh after initially assaying for palladium, platinum and gold. Once Rh results are received, the Rh concentrations will be reported and Rh will be included as a component of 3PGM (palladium+platinum+rhodium) and included in calculations of palladium equivalent (PdEq).

 

The Company’s drill program has been paused for two to three weeks to accommodate spring break-up. Samples have been submitted for analysis and assays are pending for EB-21-51 to EB-21-57. The Palladium mineralization is hosted within a 45° north dipping vari-textured gabbro unit near the basal contact of the East Bull Gabbro. Drilling has successfully focused on testing the downdip extension of this “contact-type” mineralization. Such mineralization structures are typically tens of metres thick.

 

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

 

 

Figure 1. Drill intersections reported in this release relative to Garden and Valhalla Zones of the East Bull Palladium Deposit. Base map is airborne total field magnetic survey.

 

Appendix 1. Drill Hole Location information

 

HOLE-ID UTM_E UTM_N LENGTH AZIMUTH DIP
EB-20-48 403972 5141334 200 180 -60
EB-21-49 403979 5141444 255 180 -60
EB-21-50 403853 5141350 200 180 -60

 

Drill collar coordinates are in NAD83 UTM 17N

 

Posted March 30, 2021

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